:00:00. > :00:00.to see an award coming this way for it. He is one of the hundreds being
:00:00. > :00:17.honoured for their work in the local community.
:00:18. > :00:20.Hello and welcome to our look ahead to what the papers will be
:00:21. > :00:23.With me are the campaigner and broadcaster Lynn Faulds Wood
:00:24. > :00:32.and the Independent's Political Correspondent, James Cusick.
:00:33. > :00:38.The Guardian has a picture of Dumfries in Scotland under water
:00:39. > :00:40.after the River Nith burst its banks.
:00:41. > :00:42.The paper says George Osborne has been accused of jeopardising
:00:43. > :00:45.Britain's flood defences by prioritising cutting the deficit.
:00:46. > :00:47.Top women in business who have received honours are pictured
:00:48. > :00:52.Its main story: A review of Britain's banking culture has
:00:53. > :00:54.been ditched by Britain's financial watchdog only months
:00:55. > :00:59.The Express says the UK's payments to Brussels are another reason
:01:00. > :01:21.Train tickets could become a thing of the past.
:01:22. > :01:24.And The Mirror has an image of the man accused of shooting
:01:25. > :01:27.dead his wife in a care home in Essex.
:01:28. > :01:39.Let's kick off with the ST FrontPage. This was the central
:01:40. > :01:44.plank of the Financial Conduct Authority's plans. They were going
:01:45. > :01:48.to review the culture of pay and promotion within the bank and
:01:49. > :01:55.concerns about their practices and so on. It has all been scrapped. I
:01:56. > :02:00.worry about reviews. I am conducting one for the moment for the
:02:01. > :02:07.Government into unsafe products and things which I did for watchdog. It
:02:08. > :02:11.is worried -- worrying that they are kicked into the long grass. I hope
:02:12. > :02:16.that does not happen to mind. This was launched and put to Parliament
:02:17. > :02:22.and business scenario has all gone. I do not know if that is associated
:02:23. > :02:24.with the fact that the Chief Executive of the Financial Conduct
:02:25. > :02:30.Authority was forced out just around the time they were launching this
:02:31. > :02:38.review. Now it looks like it is being scrapped. Scrapped or delayed?
:02:39. > :02:42.A Conservative MP told that he hoped it was delayed rather than
:02:43. > :02:49.cancelled. I think it is actually dead. I think that is what happened.
:02:50. > :02:54.This has been coming. There have been noises from Downing Street that
:02:55. > :02:58.effectively the Government needed a new relationship, a closer
:02:59. > :03:07.relationship, with the city. Another is of banker bashing is not wanted.
:03:08. > :03:11.That is what has happened. -- era of banker bashing. There is potential
:03:12. > :03:16.for criminal investigations and lots of stuff to happen. They want to
:03:17. > :03:22.draw a line and move on. I'm sure they want to do that. They're worthy
:03:23. > :03:27.foreign exchange scandals and the LIBOR scandals. We still have court
:03:28. > :03:37.cases going through on that. It is very low fruit, the catchment on
:03:38. > :03:42.that. The focus on the culture in financial services firms remains a
:03:43. > :03:49.priority. There is ongoing work in this area within firms and
:03:50. > :03:55.externally. How long does that take? I still remember days when people
:03:56. > :04:03.like Fred Goodwin were honoured for their services to banking. Why don't
:04:04. > :04:10.they publish the Christmas bonuses, to stop us being cynical? We have
:04:11. > :04:18.only had a few days since Christmas! Take us to the other story. Rubel
:04:19. > :04:24.plunges as oil is in second year of recession. The Russian president has
:04:25. > :04:31.said he expected the crisis to have passed. That does not look as if it
:04:32. > :04:38.has happened. On international markets, Saudi Arabia has what is
:04:39. > :04:47.called a pump and dump strategy. They continued to use this strategy
:04:48. > :04:52.because they are trying to hurt the shale industry. There will probably
:04:53. > :05:01.be new supplies from Iran and Libya coming. The amount of supply of all
:05:02. > :05:08.-- of oil will do nothing. Unlike Russia. The predictions of an easy
:05:09. > :05:14.year are gone. This story is well explained. It basically says, the
:05:15. > :05:20.rouble has nothing to look forward to. Good news for us consumers who
:05:21. > :05:26.feel our cars with petrol. My favourite phrase in all of this is
:05:27. > :05:32.an economist from Russia saying the current crisis has no concrete
:05:33. > :05:40.bottom. That is putting it mildly. That may be a bad translation. Fair
:05:41. > :05:47.enough. In the Express. Britain pays EU ?1 billion a month. This is
:05:48. > :05:54.coming from the chief Executive of the league campaign. I would like to
:05:55. > :06:01.have this audited. We gain and we lose. This 1 billion may not in
:06:02. > :06:06.fact, be an exact 1 billion. They are claiming 1 billion a month will
:06:07. > :06:12.make us want to leave Europe. This is as a result of him saying we have
:06:13. > :06:21.spent half ?1 trillion into the budget since joining. I have done a
:06:22. > :06:26.lot of work in Europe and helped matters. I think we get a lot out of
:06:27. > :06:33.Europe we cannot quantify on health. We are still among the worst in
:06:34. > :06:40.Europe for things like cancer. We do a lot of business with Europe. How
:06:41. > :06:46.you can quite say, can you work it out, that this is a billion quid a
:06:47. > :06:53.month? If we take the Prime Minister at his word, we are potentially six
:06:54. > :06:59.months away from a referendum. Increasingly, we are liable to see
:07:00. > :07:06.this kind of campaigning. As dark as this, whether is no attempt to
:07:07. > :07:09.balance two sides of the equation. This is effectively an opening
:07:10. > :07:14.gambit. Over the next six months we need to be vigilant that Europeans
:07:15. > :07:25.have told only one side of the story. Stay with it. James, quite
:07:26. > :07:33.telling image on the front from the storms that a lot of people have
:07:34. > :07:41.ensured. 100 miles an hour wind. The BBC has been good on this. The BBC
:07:42. > :07:48.has been trying to explain how, if you like, this is happening. It is
:07:49. > :07:56.not freak weather. This was effectively coming, this scale of
:07:57. > :08:02.stuff. Once it reaches this amount, when you see fairly established
:08:03. > :08:08.towns underwater, Dumfries and your, these are horrific images. The
:08:09. > :08:14.climate change deniers are in a very difficult position. How much have we
:08:15. > :08:19.known it was coming? How much have we could you be two to it? Earlier
:08:20. > :08:26.in the summer there was torch about farmers were straightening out the
:08:27. > :08:30.rivers. -- there was talk. We need to know the contributory factors. We
:08:31. > :08:36.knew it was coming and we knew it would be horrible. We did not know
:08:37. > :08:39.it would be this horrible. We need to get more prevention strategies
:08:40. > :08:44.going. If we are increasingly going to have this happen, do we have to
:08:45. > :08:48.look at Dominic Grieve can either abandon your home and go somewhere
:08:49. > :08:53.else and give it to someone who will want to live there and be flooded? I
:08:54. > :08:57.have covered the floods down in Gloucestershire. It is a horrible
:08:58. > :09:01.thing when you're flooded. The houses were getting ready and all
:09:02. > :09:08.the electrics were lifted. If you want to live right beside the River,
:09:09. > :09:14.there will be so much flooding and cowboy builders will have a field
:09:15. > :09:19.day. Some of the flood defences, the first time the river flooded, it's
:09:20. > :09:27.not the walls down. We have to be very careful and put much more
:09:28. > :09:33.effort... We keep reading about the cutting the budget. That takes us on
:09:34. > :09:40.to the front page of the Guardian. James... This is the George Osborne
:09:41. > :09:49.quote. The Guardian has been quite clear. It is the National Audit
:09:50. > :09:56.Office figures. They say there is a 10 cents decline in flood defence
:09:57. > :10:01.spending since 2010. -- a 10% decline. The professor has analysed
:10:02. > :10:08.the data transferred, what we really expect is to see spending at a much
:10:09. > :10:13.higher level. Over the last five years, we have had climate change
:10:14. > :10:18.deniers in fairly senior positions in the Government. We do have David
:10:19. > :10:22.Cameron promising to invest ?400 million year in shoring up flood
:10:23. > :10:27.defences. It is how you shore them up. At the moment we are trying to
:10:28. > :10:32.contain the rivers survey do not overflow. We need to go deeper and
:10:33. > :10:43.earlier and find how the rivers are getting so fall in the first place.
:10:44. > :10:47.I live on a flood plain. He said you are mad if you live in a flood plain
:10:48. > :10:58.and you are mad if you build a house in a flood plain. They do not take
:10:59. > :11:03.into account the dramatic changes. If the Government is serious about
:11:04. > :11:09.this, and it needs to be, they need to make your detailed enquiry. Two
:11:10. > :11:15.they have their policy correct? If we are going to believe the Oxford
:11:16. > :11:20.professor, they have not. One more from the Guardian. UK builders hold
:11:21. > :11:30.back enough land for 600,000 new homes. Osborne said there is a
:11:31. > :11:35.growing crisis facing home ownership. The biggest
:11:36. > :11:41.house-builders in the land have enormous land banks of places they
:11:42. > :11:46.could build on. I live in an area near Twickenham Studios. That was
:11:47. > :11:50.going to be taken away and replaced with housing. The house-builder that
:11:51. > :11:59.was interested in that said we have plenty of other land. There is
:12:00. > :12:04.plenty of land. The problem is, they are not building affordable houses
:12:05. > :12:11.on it. Take us to the Telegraph and the end of the line for train
:12:12. > :12:16.tickets. This is the same way as London works with Oyster cards. I'm
:12:17. > :12:21.hesitant about this story. I do not want to be in Waterloo, Euston or
:12:22. > :12:27.King's Cross on the day that this begins. I really do not. Ayew
:12:28. > :12:32.imagining it will not go smoothly? There is a line here is that says,
:12:33. > :12:36.this is the managing director of the project saying, the new ticketing
:12:37. > :12:43.system would improve the experience. Two the line where the computer
:12:44. > :12:48.says, no? I just have visions of massive queues. The idea is we do
:12:49. > :12:56.not need to have a paper ticket any more. We can even use credit cards.
:12:57. > :13:04.I'm just not confident we can do it quickly. Find Mac in other countries
:13:05. > :13:10.they are streets ahead. I live in London and I go on the tube. I can
:13:11. > :13:14.tap in my credit card and it is half the price if I bought a ticket or
:13:15. > :13:19.used cans. They want to do away with all the nice people who are sitting
:13:20. > :13:22.there and selling me something and having it automated.